Swiss Crypto Banks Receive Licenses From Financial Regulator

Must Read

Eight Things in Crypto You Can’t Afford to Miss This Week

In this roundup, we cover China's market-rattling resistance to Bitcoin, the increasing drumbeat toward crypto regulation, the...

Why the Cloud Industry Needs to Become Greener

According to Energy Post, the Internet will consume 20% of the projected electricity demand...

Your Wallet May Not Be as Secure as You Think; Here’s What To Do

Remember the egregious breach that exposed Ledger’s entire trove of customer data to the public?...
- Advertisement -
Earn Free Bitcoin

The Swiss Financial Market Supervisory Authority (FINMA) has reportedly granted two banking and securities dealer licences to crypto-focused banks.

Two Swiss crypto-specializing firms, Seba Crypto AG and Sygnum have received banking and securities dealer licenses, the banks said in separate statements on Aug. 26.

With the new license, Seba expects to officially launch its new trading platform platform in early October 2019, the company stated. Seba’s plans include the establishment of a digital asset platform for professional traders, firms and institutional clients, as well as custody storage and asset management.

Sygnum said that regulatory approval will allow it to bring its digital asset offerings to market, which include a custody and integrated liquidity platform for major digital currencies including Bitcoin (BTC), Ether (ETH) and digital Swiss Franc tokens. 

The news follows FINMA’s newly released guidance on regulatory requirements for blockchain-based payments. The guidance targets blockchain service providers including exchanges, wallet providers and trading platforms.

FINMA emphasized that blockchain sector businesses are not exempt from Anti-Money Laundering and Know Your Customer requirements.

At press time, crypto markets are seeing notable gains, with Bitcoin up over 2.52% over the past 24 hours to trade at $10,324, according to Coin360.

- Advertisement -
- Advertisement -

Latest News

Sunday Market Analysis from Trendtracers

BTCUSDT. First impression is bearish, there seems to be yearly support at around 28k, We’re expecting more...
- Advertisement -Earn Free Bitcoin

Earn Passive Income with Nhash Cloud Mining Services

Cloud mining services are an easy way to earn passive income online. Although...

Afri-X and DigiShares Bring Tokenization to Africa

DigiShares is proud to announce its partnership withAfri-x.com to deliver the power of tokenization to Africa. DigiShares has licensed its tokenization platform to...

Racing For Heroes selects Gen2 Technologies as a Key Technology Partner

SPARKS, Nev., April 7, 2021 /PRNewswire/ -- Gen2 Technologies Inc. (the "Company") (OTC: MNIZ) is proud to announce that it has been...

Ken The Crypto tells You How to Get the Most out of the 2021 Bull Run

The year 2021 is what people call the "Bitcoin Year", and the reason is self-explanatory. This recent bull-run has brought...